Insurance Organisations

Trade Associations

The Association of British Insurers
51 Gresham Street, London, EC2V 7HQ

The Association of British Insurers ("ABI") is the trade association for around 400 insurance companies and represents 97% of the UK insurance market. The ABI has developed a number of codes of conduct with which its members are required to comply.

Industry Regulators

The Financial Services Authority Limited
25 The North Colonnade, Canary Wharf, London E14 5HS

The Financial Services Authority ("FSA") is an independent organisation which the UK Parliament has delegated responsibility for the regulation of the financial services industry including deposit taking by banks, insurance and investment business. Its main objective is to ensure consumers are protected and treated fairly. Later in 2004 the FSA will also regulate mortgage lending and mortgage advice. From the 14th January 2005 the FSA will regulate general insurance advice. The FSA is now the sole regulator for the sector replacing organisations such as IMRO, PIA, SFA and the Insurance Directorate of HM Treasury following powers granted under the Financial Services Markets Act 2000.

The Financial Services Authority Limited (Insurance Directorate)
25 The North Colonnade, Canary Wharf, London E14 5HS

The Insurance Directorate is now incorporated into the Financial Services Authority (“FSA”). It regulates and monitors the solvency position of life insurance companies.

General Insurance Standards Council ("GISC")
110 Cannon Street, London EC4N 6EU

The General Insurance Standards Council is an independent non-statutory organisation which was set up to regulate the sales, advisory and service standards of members (insurers and intermediaries including brokers, agents and anyone acting for them). Its main purpose was to set standards for the conduct of business of general insurance businesses and ensure consumers are treated fairly. GISC's function has now been taken over the Financial Services Authority.

Financial Ombudsman Service ("FOS")
25 The North Colonnade, Canary Wharf, London E14 5HS

The Financial Ombudsman Service is an independent public body set up to resolve disputes between financial services companies and consumers fairly and impartially. The Financial Ombudsman Service was set up by law under the Financial Services and Markets Act 2000 to provide a single ombudsman scheme to handle all financial services related complaints, replacing existing dispute resolution schemes including the Insurance Ombudsman Bureau and the PIA Ombudsman Bureau.

Financial Services Compensation Scheme ("FSCS")
7th Floor, Lloyds Chambers, 1 Portsoken Street, London, E1 8BN.

The Financial Services Compensation Scheme (FSCS) is a safety net for customers of authorised financial services firms. FSCS can pay compensation if an authorised firm is unable, or likely to be unable, to pay claims against it. In general this is when a firm is insolvent or has gone out of business. The scheme covers deposits, insurance and investments.